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Can an Indian Buy Property in USA?

March 2025 2 min Read
Buy-Property-USA
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Summary: Can an Indian buy property in the USA? Yes! Learn about FEMA guidelines, investment limits under LRS, and essential tips for safe property purchases. 

More and more Indian nationals are opting to invest in foreign assets. The most desirable option is the purchase of property in the United States, which has a strong economy, a lucrative real estate market, and viable prospects for dividends. But it is not quite that easy. There are some rules and regulations you will want to be aware of before making a decision.

Is It Legal for Indians to Buy Property in the USA?

Yes, Indians are legally allowed to buy property in the USA. However, there are certain regulations by the Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA) that you need to follow when remitting money from India to the USA to buy property.

FEMA Guidelines for Buying Property Overseas

Under FEMA regulations, Indian nationals can buy foreign property in three primary ways:

1. By Inheritance

1.1 Indian citizens can inherit immovable property abroad from a person who acquired the property legally.

1.2 Properties purchased before July 8, 1947, or received as inheritance/gift from foreign relatives are permissible under FEMA.

2. By Purchase

2.1 Indians can purchase property abroad using funds from their Resident Foreign Currency (RFC) account under the Liberalised Remittance Scheme (LRS).

2.2 The LRS permits each individual to transfer up to USD 250,000 per year for investment purposes, like acquiring real estate.

3. By Lease

3.1 Indians can lease a property overseas for up to 5 years without special RBI authorization.

What Types of Properties Can Indians Purchase in the USA?

Indians can purchase various types of residential and commercial properties in the United States, including:

1. Single-family homes

2. Condos (Condominiums)

3. Duplexes, Triplexes, and Quadplexes

4. Townhomes

5. Commercial properties (e.g., office spaces, retail outlets, etc.)

Key Considerations Before Buying Property in the USA

Before you begin the property purchase process, here are some crucial points to keep in mind:

1. Tax Implications: Understand the tax laws of India and the US. Rent income can be taxed in both countries.

2. Property Management: If you are not staying in the US, it is best that you hire a good property management firm.

3. Insurance: Home insurance is necessary to safeguard your investment.

4. Legal Assistance: Consulting a real estate lawyer can help you navigate local property laws and avoid legal complications.

5. Money Transfer Platforms: Select a reliable platform to send money to a foreign nation to buy property.

Why Choose BookMyForex for Sending Money Abroad?

To purchase property in the USA, you must exchange USD from INR and transfer the funds to the account of the seller. This falls under Purpose Code S0005 as defined by the RBI for overseas property overseas. BookMyForex allows you to transfer USD from India to the USA for investment overseas.

1. Best Exchange Rates: Unlike banks that offer fixed rates for the day, BookMyForex offers live exchange rates that change every three seconds.

2. Zero Transfer Charges: BookMyForex offers full transparency with no transfer charges.

3. Fully Online Process: From placing your order to submitting documents and transferring funds, everything can be done from the comfort of your home.

4. Faster Transfers: We make sure your money is transferred swiftly within 12-48 business hours.

Final Thoughts

Investment in property in the USA can be a good idea. It can yield long-term returns and potential rental income. With knowledge of FEMA regulations, tax implications, and secure means of remittance, you can invest easily and efficiently. For the best exchange rates and hassle-free transfers, trust BookMyForex to manage your foreign money remittances. Get started today!

About the Author

Bhawna Nijhawan

Bhawna Nijhawan is the Content Manager at BookMyForex and the go-to person for creating engaging, informative content that resonates with the platform’s diverse audience. With over 8 years of experience in content writing and more than 4 years in the forex industry, she knows exactly how to simplify complex forex topics into something everyone can relate to.

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